GERFF - Glen Eagle Corporate Update
(TheNewswire)
TheNewswire - January 17 , 2022 - Glen Eagle Resources (TSX V :GER) (OTC:GERFF) ( “ Glen Eagle ”the “ Company”, or “ GER ”) is pleased to report that the private placement closedon December 29, 2021, was mostly purchased by three shareholders withinternational exposure to the mining industry. These shareholders owna combined 14 million shares and have taken an active role inassisting the Company in shipping, credit facilities, spare partslogistics and on time delivery. With their added participation,approximately 65 million shares or 50% of all outstanding shares arecontrolled by a small group of investors dedicated to support GlenEagle’s goals.
On June 16, 2021, the Company issued a news releaseregarding Cycladex gold extraction technology developed by Nobel Prize winner Sir Frazer Stoddart andsupported by the National Science Foundation SBIR. Since then, theCompany has been in regular contact with Cycladex. It is currentlyexpecting laboratory data and results on samples provided by CobraOro.
The Company plans to apply Cycladex green technology atfirst to process 50,000 tons of tailings grading 1.2 g/Au per tonalready in situ at Cobra Oro plant site. The implementation cost isrelatively inexpensive and would require adding a separate circuit andrecommissioning of Cobra Oro second ball mill.
The Company will bring an additional update shortly onits mining concessions, ongoing drilling program and production. Thelatter doing very well in its ramped-up phase under the supervision ofCOO, Karl Trudeau.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.”
Jean Labrecque
Glen Eagle Resources Inc
2075 Victoria Street, Suite 201
St-Lambert, Quebec
J4S-1H1
514-808-9807
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